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Old 01-16-2014, 01:43 PM
 
284 posts, read 611,782 times
Reputation: 336

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Will someone please tell me what is up with this place and whether or not it's a good deal. If you prefer, send me a private message.
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Old 01-16-2014, 03:30 PM
 
Location: Albuquerque, NM
1,569 posts, read 3,287,954 times
Reputation: 3165
There are a lot of undeveloped lots there, so it's a tremendous development size-wise for the amount of HOA dues coming in. There have also been a lot of foreclosure a, and a lot of folks who are just opting not to pay HOA dues. There is also a large mortgage on the amenities that the previous board chose to stop paying for several years and pay an attorney to fight it instead. That all has to come home to roost at some point. I'd just steer clear. You might get in for a great price, but it's tough to get out. Also, the pool needs work, is incredibly oversized, and the lifeguard budget is very pricy.
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Old 01-16-2014, 08:06 PM
 
284 posts, read 611,782 times
Reputation: 336
Thank you for the info. I could tell something was up just by the sheer number of homes for sale/foreclosure and the cheap prices.
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Old 04-23-2014, 02:59 PM
 
Location: Calera, AL
1,485 posts, read 2,251,837 times
Reputation: 2423
Stay away! The HOA is run by a bunch of greedy crooks, and the person they bought the land from a few years back is in cahoots with them as well. They refuse to pave the roads, they're about to shut down the pool, yet still charge everyone homeowner fees. The neighborhood was once nice, but is starting to look run-down, the parents are letting the kids run around unsupervised, there's an insane amount of foreclosures and plenty of people looking for greener pastures (ourselves included).

I sincerely hope the Waterford goes under one day, unless they can somehow clean up their act.
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Old 08-08-2015, 05:28 PM
 
2 posts, read 3,380 times
Reputation: 10
Roads have been paved, not many homes for sale. Pool is fixed and payments are being made. Lifeguards on duty. Over 80% of homes pay dues. New builder about to come in and build. Now is the time to get in on existing homes at below market values.
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Old 08-08-2015, 05:31 PM
 
2 posts, read 3,380 times
Reputation: 10
Also the I-65 exit which is minutes from subdivision is about to explode with growth. This fall ALDOT will begin widening the bridge from two lanes to six. This project will bring many new businesses to the Waterford exit and increase home prices.
Another plus of Waterford is the backroads to Highway 280. Less than 25 minutes to Chelsea and Greystone.
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Old 08-08-2015, 07:28 PM
 
Location: Albuquerque, NM
1,569 posts, read 3,287,954 times
Reputation: 3165
Quote:
Originally Posted by Resident2007 View Post
Roads have been paved, not many homes for sale. Pool is fixed and payments are being made. Lifeguards on duty. Over 80% of homes pay dues. New builder about to come in and build. Now is the time to get in on existing homes at below market values.
I'm glad to hear this.
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